September 28, 2017 / 5:49 PM / a year ago

Abbott wins U.S. antitrust approval to buy Alere with conditions

WASHINGTON, Sept 28 (Reuters) - Abbott Laboratories has won U.S. antitrust approval to buy Alere Inc on condition that it sell certain assets, the Federal Trade Commission said on Thursday.

Abbott first offered to buy Alere in February 2016, but the deal ran into trouble because of issues related to the diagnostic maker's accounting and sales practices. The company finally agreed to buy Alere in April for about $5.3 billion, down from its initial $5.8 billion offer.

To win the approval, the FTC required Abbott to sell two types of point-of-care medical testing device businesses, which can be used in doctors' offices, hospitals and homes.

The European Union cleared the deal in January. (Reporting by Diane Bartz; Editing by Paul Simao)

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